Brexit: Lloyd’s edges forward with Part VII transfer

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Anyone remember Brexit? Lloyd’s of London sure has not forgotten – announcing this week a step forward in its Part VII transfer to Lloyd’s Insurance Company S.A. in Belgium to allow the (re)insurance marketplace to service existing European policies and pay claims even with the loss of passporting rights as a result of the UK’s departure from the European Union.

Lloyd’s has received approval from the High Court of England and Wales for its Part VII strategy for notifying policyholders about the proposed transfer. The strategy spans comprehensive plans to ensure customers understand the transfer process, as well as providing

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U.S. consumer sentiment edges up in May but worries about social isolation grow

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(Reuters) – U.S. consumer sentiment rose unexpectedly in early May after a record plunge a month earlier as emergency assistance payments improved household finances hurt by mass layoffs from the coronavirus crisis, a survey released on Friday showed.

FILE PHOTO: A pedestrian passes a locked and barred store amid the coronavirus disease (COVID-19) outbreak in Chelsea, Massachusetts, U.S., May 11, 2020. REUTERS/Brian Snyder

The University of Michigan’s preliminary reading of its twice-monthly consumer sentiment survey also found that worries about social isolation from widespread stay-at-home orders imposed to control the spread of COVID-19 are growing as a major concern about

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Dollar edges higher against oil currencies as energy markets shaken

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TOKYO (Reuters) – The dollar pushed ahead against the currencies of oil producers on Thursday as a rebound in crude prices from an unprecedented collapse only partially calmed markets unnerved by the massive coronavirus-led drop in global demand.

FILE PHOTO: Saudi riyal, yuan, Turkish lira, pound, U.S. dollar, euro and Jordanian dinar banknotes are seen in this illustration taken January 6, 2020. REUTERS/Dado Ruvic/Illustration

The euro held steady against the greenback and the pound ahead a of meeting of European Union officials on the bloc’s response to the economic turmoil caused by the global coronavirus pandemic.

Analysts say sentiment is

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Oil edges higher after hitting 18-year lows but demand outlook weighs

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SINGAPORE/TOKYO (Reuters) – Oil edged higher on Thursday following sharp losses in the previous session on hopes that a big build-up in U.S. inventories may mean producers have little option but to deepen output cuts as the coronavirus pandemic ravages demand.

FILE PHOTO: A maze of crude oil pipes and valves is pictured during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport, Texas, U.S. June 9, 2016. REUTERS/Richard Carson/File Photo

With official data showing U.S. inventories surging the most on record, WTI fell on Wednesday to its lowest since February 2002, with Brent slumping

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